Today’s Notable Sentiment Shifts
USD – The dollar sank more than 1% against a basket of peers on Wednesday as weakening economic data firmed views that the Federal Reserve will slow the pace of its hiking cycle, sending the euro back above parity with the greenback for the first time in a month.
CAD – The Canadian dollar weakened on Wednesday after the Bank of Canada raised interest rates less than investors expected.
Reuters succinctly summarised: The BoC increased its benchmark rate by half a percentage point to 3.75%, coming up short on calls for another 75 basis points move, as it forecast the economy would stall over the next three quarters.”
CAD – The Canadian dollar weakened on Wednesday after the Bank of Canada raised interest rates less than investors expected.
Reuters succinctly summarised: The BoC increased its benchmark rate by half a percentage point to 3.75%, coming up short on calls for another 75 basis points move, as it forecast the economy would stall over the next three quarters.”
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